Homework Answers
Variables costs = 38% of 655,000 = 248,900
Net income = (Sales - variables costs - fixed costs - depreciation)(1 - tax)
Net income = (655,000 - 248,900 - 180,000 - 87,000)(1 - 0.24)
Net income = 139,100 * 0.76
Net income = $105,716
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